Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 6 Feb, 26 | HL | Buy | USD 21.31 | USD 22.5 | USD 24.0 | 3 days | Closed |
13.09%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States and internationally. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for sale to custom smelters, metal traders, and third-party processors; and doré containing silver and gold. It owns 100% interests in the Greens Creek mine located on Admiralty Island in southeast Alaska; the Lucky Friday mine situated in northern Idaho; the Keno Hill mine located in the Keno Hill Silver District of Yukon Territory, Canada; the Casa Berardi mine located in the Abitibi region of northwestern Quebec, Canada; and the San Sebastian mine situated in the city of Durango, Mexico. The company was incorporated in 1891 and is headquartered in Coeur d'Alene, Idaho.
Silver Production Growth: Q3 FY25 silver production of 4.59 million ounces versus 3.65 million ounces in Q3 FY24
Cash Flow Upswing: Q3 FY25 operating cash flow of USD 148.0 million, up from USD 55.0 million in Q3 FY24
Higher Absolute Cost Base: Q3 FY25 total cost of sales increased to USD 229.1 million, compared with USD 185.8 million in Q3 FY24
Capital Intensity: Q3 FY25 capital investment of USD 57.9 million exceeded USD 55.7 million in Q3 FY24
Hecla’s earnings and cash flow profile remains materially exposed to volatility in silver and gold prices, as well as operational risks linked to grade variability, cost inflation, and execution of capital-intensive projects across its core mining assets
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 21.31 | 18.5 | 22.5 | 24.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Record Revenue Driven by Metal Prices and Volumes: Hecla Mining Company delivered a step-change in top-line performance during Q3 FY25, with consolidated revenue rising to USD 409.5 million, reflecting materially higher realized silver and gold prices alongside increased payable precious metal sales volumes. This marked a substantial acceleration from USD 245.1 million in Q3 FY24, underscoring the strong leverage of the portfolio to favorable metals pricing and operational execution.
Profitability Inflection and Earnings Expansion: The revenue uplift translated into a sharp improvement in profitability, with net income attributable to common shareholders reaching USD 100.6 million (USD 0.15 per share) in Q3 FY25, compared with a marginal USD 1.6 million in Q3 FY24. This performance reflects both higher margins at core assets and improved operating leverage across the business.
Robust EBITDA and Cash Flow Generation: Adjusted EBITDA increased to a record USD 195.7 million in Q3 FY25, more than doubling from USD 88.9 million in Q3 FY24. Strong EBITDA conversion supported operating cash flow of USD 148.0 million, compared with USD 55.0 million in the prior-year quarter, highlighting the quality and sustainability of earnings during the period.
Balance Sheet Strengthening and Deleveraging: The company made meaningful progress on balance sheet repair, reducing its net leverage ratio to 0.3x in Q3 FY25 from higher levels a year earlier, supported by the full repayment of the revolving credit facility and selective debt redemptions. Cash and cash equivalents rose to USD 133.9 million, materially enhancing financial flexibility relative to Q3 FY24.
Silver Operations Deliver Cost Leadership: Silver production increased to 4.6 million ounces in Q3 FY25 from 3.6 million ounces in Q3 FY24, while silver cash costs improved to (USD 2.03) per ounce versus USD 4.46 per ounce a year earlier. Although AISC rose year-on-year to USD 11.01 per ounce, the cost structure remained highly competitive in the context of significantly higher realized silver prices.
Asset-Level Execution and Project Progress: Operationally, all four producing assets contributed positively, with Greens Creek continuing to outperform on grades, Keno Hill delivering its third consecutive quarter of profitability, Lucky Friday maintaining stable output while advancing its surface cooling project, and Casa Berardi benefiting from improving cost dynamics. These outcomes reinforce the depth and resilience of Hecla’s operating portfolio.
Operational Momentum: Reflecting year-to-date outperformance, management tightened full-year silver and gold production guidance while reiterating consolidated cost guidance. This signals growing confidence in operational execution heading into subsequent quarters, supported by improving infrastructure reliability and permitting milestones.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to Hecla Mining Company (NYSE: HL) at the closing market price of USD 21.31, as on Feb 05, 2026
Data Powered by EOD Historical Data (“EODHD”).
Sector: Basic Materials Industry: Other Precious Metals & Mining
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| HL Hecla Mining Company |
-0.1 0.62% | 15.96 | - | 97.09 | 3.99 | 1.52 | 4.68 | 23.58 |
| FNLPF Fresnillo PLC |
- -% | 40.93 | 25.98 | 14.31 | 7.92 | 8.03 | 7.56 | 13.08 |
| AGPPF Anglo American Platinum Limited |
- -% | 80.93 | 26.95 | 10.44 | 0.22 | 4.16 | 3.38 | 12.41 |
| ANGPY Valterra Platinum Limited |
- -% | 12.66 | 25.75 | 10.13 | 0.21 | 4.04 | 3.38 | 12.41 |
| BVN Compania de Minas Buenaventura SAA ADR |
-1.66 4.85% | 32.58 | 9.62 | 36.50 | 4.66 | 2.19 | 5.60 | 9.43 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on February 6, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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